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Saudis ready to spend "billions of dollars" on US assets for natural gas



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Amen Nasser told Reuters in an interview that his company wants to increase its US investment. He already owns Motiva, the largest oil refinery in the United States.

"We agreed to bring an additional $ 1

0 billion to the Motiva refining complex," said Chief Executive Officer at the World Economic Forum in Davos, Switzerland.

"We have an appetite for extra investment in the United States," the Aramco international gas team received an open platform to look at the acquisition of gas across the supply chain, receiving significant financial power in billions of dollars. "

The Strategy Aramco's gas expansion needs 150 billion dollars of investment over the next decade as the company plans to increase its production and later to become a gas exporter, Nasser said in November.

To feed the fast-growing industries, releasing more crude oil for export or turning into chemicals.

Investing in the US gas and petrochemical sector has become "thanks to the large availability of ethane resources," Nasser said. "In gas, we will be one of the major global players," he added.

Aramco is a major gas player, but much of its production is used in the country. The company plans to increase gas production to 23 billion standard cubic feet per day over the next decade, from 14 billion euros now.

Saudi Arabia, the world's largest exporter of crude oil, wants to diversify its energy mix and increase its share of its gas capacity to 70% in the next decade by about 50 percent now.


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